Synthelabo Seeking Merger; New Strategic Plan

9 April 1997

Herve Guerin, chairman of French pharmaceutical company Synthelabo, hassaid that his firm is looking to find a partner in order to increase its size by around 30% through acquisition and merger. At a meeting with analysts and press in London to unveil the firm's new strategy to 2000, he said that in 1991-92, Synthelabo doubled its size through the acquisitions of Delalande and Delagrange. This time, the increase sought is smaller but the way of achieving it will be similar, he said. He confirmed that some potential partners have been identified.

He acknowledged that Synthelabo is not a global player in the health care industry. However, he said, it can become "one of the best regional players," focusing on Europe. Synthelabo is looking for a "partner of choice in our fields of expertise in Europe," he explained.

By the year 2000, he expects Synthelabo to be one of the top 10 European pharmaceutical companies, with 3,000 medical representatives and a market share in the region of 3%. The firm currently has around 2% of the market, but has set itself the target of gaining a further 1%. It currently specializes in three main therapeutic areas: cardiovascular, the central nervous system and internal medicine.

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